The US financial services industry saw a rise of 1.7% in overall deal activity during July 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 119 deals worth $7.64bn were announced in July 2020, compared to the 12-month average of 117 deals.
M&A was the leading category in the month in terms of volume with 70 deals which accounted for 58.8% of all deals.
In second place was venture financing with 36 deals, followed by private equity with 13 transactions, respectively accounting for 30.3% and 10.9% of overall deal activity in the country’s financial services industry during the month.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $5.68bn, while private equity and venture financing deals totalled $1.1bn and $860.14m, respectively.
US financial services industry deals in July 2020: Top deals
The top five financial services industry deals accounted for 82.4% of the overall value during July 2020.
The combined value of the top five financial services deals stood at $6.3bn, against the overall value of $7.64bn recorded for the month.
The top five financial services industry deals of July 2020 tracked by GlobalData were:
1) The Allstate’s $4.52bn acquisition of National General Holdings
2) The $625m private equity deal with Benefytt Technologies by Madison Dearborn Partners
3) Wafra’s $400m acquisition of Digital Colony Partners
4) The $400m acquisition of Bank of America by Berkshire Hathaway
5) Corsair Capital’s private equity deal with Multi Service Technology Solutions for $350m.
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.
